AusDoc's Support & Resistance Tool for Locating Stops

[AusDoc]

Hopefully you already know how to look at a chart and identify where most traders will have placed their stops. I presume you also know how to use this information effectively.

Our own foreigner recently posted the following chart, suitably marked up.

Source: http://fxgears.com/forum/index.php/topic,242.msg6119.html#msg6119

Below I have attached a tool that will plot the support and resistance (S&R) levels that most traders use for stops placement. The tool identifies S&R at Daily, 4 Hourly, 1 Hourly and 15 minutely periods and will plot them at and below each period. The following charts illustrate its application on the EURUSD across multiple time frames.

 

[foreigner]

Thanks for the mention AusDoc.

This is a useful tool for training the eye on 'liquidity pockets' which to me are the abstract to orderflow and therefore an integral part of analysis.

Thanks for sharing.

 

[foreigner]

Practicing what I preach..

Thanks to ICT for reflection pattern, Rod178 for KSRfigures, Ausdoc and Hopiplaka for inspiration and last but not least, buy stops for liquidity.

 

[AusDoc]

Nice entry foreigner. Well done

...oh, and thanks for the thanks.